Dealership CEO Accused of Evading Cash Deposit Reporting Requirements
Dealership CEO indicted for allegedly evading reporting requirements for cash deposits. The 26-count indictment could lead to a maximum penalty that includes decades in prison, plus a fine and possible penalties for his company.
COLUMBUS, Ohio — A federal grand jury indicted CEO of Valueland Auto Sales Inc., Ron Benit, on 26 counts of evading reporting requirements for cash deposits, The Columbus Dispatch reported this week.
Benit and his company are accused of making multiple cash deposits of less than $10,000 on the same day or consecutive days. Federal law requires that businesses report cash transactions of more than $10,000 by filing Form 8300 with the IRS.
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